Technical: Cotton Bales Rajkot- Expect Correction/Consolidation At Lower Range

Dated 21/07/2017

COTTON BALES – Rajkot - Last Close- 20180 – Expect correction/consolidation at lower range

Monthly Chart

Correction towards DRV 19312 can be seen for Wave c of Wave iv is likely to be witnessed.
Further rise is above 21100.

Expect consolidation at lower range towards DRV.

Conclusion

Correction towards 19312 is likely before moving higher.

Breakout rally can be seen above 21100.